San Marco Resources (TSX VENTURE:SMN) (“San Marco”) announces the results and recommendations of recent exploration on its 1068 Project. The Project is an undrilled copper, molybdenum and gold porphyry system discovered from San Marco’s generative program.
During construction of a preliminary access road to potential drill site areas, mineralization was noted in the roadway with copper values up to 0.76%, gold up to 0.17g/t and molybdenum up to 2050 ppm over 3 – 4 metre channel samples. Drilling is recommended after additional surface mapping and sampling is completed. Preparation for such work will commence immediately.
Highlights of the exploration include;
- Surface alteration and mineralized footprint has increased to 1.6 kilometres X 1.5 kilometres (“km”) and is open for expansion in at least two directions.
- Poorly exposed erosional window into potassically altered mineralized intrusive (100 metres by 200 metres) is an obvious drill target.
- Extensive phyllically altered and stockwork-quartz-veined volcanic lithocap (as above, 1.6 km X 1.5 km and open) may have created favourable conditions for sealing the system acting as a trap for fluids, enhancing the mineralizing process. Drilling through this volcanic cap is another obvious drill target.
- Oxide copper occurs mainly in fractures and veinlets. Fresh sulphides (pyrite, chalcopyrite and molybdenite) were observed below the volcanic rock cap in potassic alteration.
- Semi-continuous channel sampling over part of a newly constructed road cut ran 62 metres of 0.1% copper; 215 ppm molybdenum and 0.044 g/t gold. Sampling was limited to where the bulldozer was able to build the road and not necessarily cutting the best outcrop exposures.